pbare
Well Known Member
Does anyone know the best way to calculate the CPP Exemption?
I am trying to extract the data from E1 for a conversion to Oracle HCM and the Exemption isn't stored in E1
I know that to calculate the CPP Exemption, it should be 134.62 * Number of Pays the employee has received (what is the best way to get this number)
I have an employee that hasn't maxed out and should be calculated normally
If I used the above method
(3500/26)*14 (Number of pays) = 1884.62
OR
I have tried calculating it by doing the following
1) Taxable Earnings * 4.95% = Total Taxable
2) Total Taxable - Total Withheld = Total
3) Total/4.95% = Exemption
If I use this method:
1) 46386.74 * 0.0495 = 2296.14363
2) 2296.14363 - 2202.82 (CPP Withheld) = 93.32363
3) 93.32363/0.0495 = 1885.3258
As you can see the 2 methods generate different amounts
I need to get this calculation figured soon as we are in the middle of a data conversion.
Thanks
Pam
For the most part this calculation works EXCEPT if the person was on leave during the year; turned 70 in the year or filled out the CPT30 form in the year
Is there any where in JDE that I can validate that my calculation is correct?
Thanks
Pam
I am trying to extract the data from E1 for a conversion to Oracle HCM and the Exemption isn't stored in E1
I know that to calculate the CPP Exemption, it should be 134.62 * Number of Pays the employee has received (what is the best way to get this number)
I have an employee that hasn't maxed out and should be calculated normally
If I used the above method
(3500/26)*14 (Number of pays) = 1884.62
OR
I have tried calculating it by doing the following
1) Taxable Earnings * 4.95% = Total Taxable
2) Total Taxable - Total Withheld = Total
3) Total/4.95% = Exemption
If I use this method:
1) 46386.74 * 0.0495 = 2296.14363
2) 2296.14363 - 2202.82 (CPP Withheld) = 93.32363
3) 93.32363/0.0495 = 1885.3258
As you can see the 2 methods generate different amounts
I need to get this calculation figured soon as we are in the middle of a data conversion.
Thanks
Pam
For the most part this calculation works EXCEPT if the person was on leave during the year; turned 70 in the year or filled out the CPT30 form in the year
Is there any where in JDE that I can validate that my calculation is correct?
Thanks
Pam
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